A former Las Vegas HOA board president is questioning whether homeowners can access monthly financial statements before the board formally approves them, citing delays that leave residents waiting months for financial transparency. The homeowner, who served as board president from August 2019 through 2023, said a new management company hired in August 2025 did not provide financials until July 2026, and even then, reports lagged one month behind quarterly board approvals.
According to Nevada Revised Statute 116.31175, an association board must make the association's financial statement available upon a unit owner's written request. However, expert Barbara Holland clarified that only board-approved financial statements are available to homeowners; pre-approved or draft statements do not meet this requirement.
The homeowner's inquiry stems from deeper financial troubles. The community has owed its reserve account from operating funds for almost three years, with the shortfall growing from $118,700 in 2023 to $129,899.75 by the end of 2025, with no repayments made. Despite a balance sheet showing $108,825.14 in cash as of August 2026, the operating account sits at a negative funded amount due to the reserve liability.
Under NRS 116.31152, associations are legally required to annually review reserve study results to determine reserve sufficiency and must adjust funding plans at least annually to provide adequate funding for required reserves. Holland noted that the 2027 budget should reflect steps to increase reserve funding.
The response also addressed several unrelated HOA matters, including that Nevada law does not require residents to have Nevada license plates, associations have broad authority to restrict all-terrain vehicles, developers typically set initial speed limits, and only landlords—not associations—can initiate tenant evictions.
Sources: Las Vegas Review-Journal
Original reporting: Las Vegas Review-Journal →
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